First Trust California Municipal High Income ETF (NASDAQ:FCAL) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

First Trust California Municipal High Income ETF (NASDAQ:FCAL)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $48.15 and traded as high as $48.83. First Trust California Municipal High Income ETF shares last traded at $48.79, with a volume of 200,178 shares traded.

First Trust California Municipal High Income ETF Stock Up 0.3%

The business’s 50 day moving average is $47.80 and its 200-day moving average is $48.15. The firm has a market cap of $202.46 million, a P/E ratio of 128.38 and a beta of 0.15.

First Trust California Municipal High Income ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 21st were given a $0.133 dividend. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, August 21st. This is an increase from First Trust California Municipal High Income ETF’s previous monthly dividend of $0.13. First Trust California Municipal High Income ETF’s payout ratio is presently 407.89%.

Institutional Investors Weigh In On First Trust California Municipal High Income ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Miracle Mile Advisors LLC increased its position in shares of First Trust California Municipal High Income ETF by 4.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 1,999,125 shares of the financial services provider’s stock worth $97,038,000 after purchasing an additional 89,948 shares during the last quarter. Royal Bank of Canada increased its position in shares of First Trust California Municipal High Income ETF by 2.4% in the 1st quarter. Royal Bank of Canada now owns 130,218 shares of the financial services provider’s stock worth $6,321,000 after purchasing an additional 3,039 shares during the last quarter. Citizens Business Bank increased its stake in First Trust California Municipal High Income ETF by 2.1% during the second quarter. Citizens Business Bank now owns 125,718 shares of the financial services provider’s stock valued at $6,031,000 after purchasing an additional 2,643 shares during the last quarter. Guggenheim Capital LLC increased its stake in First Trust California Municipal High Income ETF by 24.8% during the second quarter. Guggenheim Capital LLC now owns 105,477 shares of the financial services provider’s stock valued at $5,060,000 after purchasing an additional 20,964 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in First Trust California Municipal High Income ETF by 171.0% during the second quarter. Jane Street Group LLC now owns 88,954 shares of the financial services provider’s stock valued at $4,267,000 after purchasing an additional 56,132 shares during the last quarter. Institutional investors own 54.39% of the company’s stock.

About First Trust California Municipal High Income ETF

First California Financial Group, Inc is a bank holding company for its wholly owned subsidiary First California Bank (the Bank). The Bank is a full-service commercial bank. The Bank’s operations are primarily located within the areas commonly known as the 101 corridor stretching from the City of Ventura to Calabasas, California, the Moorpark-Simi Valley corridor, the western San Fernando Valley, the Tri-Cities area of Glendale-Burbank-Pasadena, the South Bay, the Inland Empire, north San Diego County, Century City and other parts of Los Angeles, Orange San Luis Obispo and Ventura Counties in Southern California.